A Southern California mortgage brokerage has reached a settlement with four states over claims of wrongdoing that included several allegations of unlicensed lending activity. E Mortgage Capital, based in Irvine, California, agreed to settle with banking supervisors of Hawaii, Idaho, Oregon and Texas in late September following a multistate investigation that began in late 2023. […]
California broker fined for unlicensed activity Read More »
Ryan Alexander was on a cruise with his family when he received news he already felt in his bones was coming: the Department of Government Efficiency cut the project he was working on via his consultancy firm. He was officially out of a job. Though the news was jarring, Alexander’s family rallied around him—and encouraged
How a DOGE-cut employee became a full-time mortgage broker Read More »
United Wholesale Mortgage’s All-In initiative, which rocked the broker world four years ago, continues to survive legal challenges. A Michigan federal judge last week granted partial summary judgment to UWM in its case against America’s Moneyline, a brokerage accused of violating the ultimatum. The since-defunct brokerage admitted to selling numerous loans to both UWM and
UWM stays undefeated against brokerages fighting ‘All-In’ Read More »
Rocket Companies announced Tuesday it has officially closed its $1.75 billion acquisition of Redfin. In light of that, Rocket is launching a product called Rocket Preferred Pricing to encourage consumers to use both its mortgage and real estate services. Borrowers who purchase a home with a Redfin agent and finance it through Rocket Mortgage can
Rocket closes Redfin deal, rolls out buyer incentives Read More »
Concerns over channel conflict in mortgage lending — particularly between wholesale and retail operations — are resurfacing as brokers reclaim a growing share of originations. Tension can arise when wholesale lenders also operate retail arms, potentially putting them in direct competition with the very brokers bringing them business. This strain has led companies like United
Mortgage broker-retail friction returns to spotlight Read More »
Mortgage brokers are tired of the dialogue around elevated interest rates. “It is what it is,” some say, emphasizing that other factors – such as changes in policy at the Federal Housing Administration — are having a more notable impact on their business and the consumers they serve. At UWM’s Live! event last week, more
Mortgage brokers say FHA changes, inventory are key hurdles Read More »